Philadelphia, PA -- (Sports Network) - The Philadelphia 76ers announced on Monday that the club has exercised the third-year options on the contracts of forwards Jason Smith and Thaddeus Young.

The 20-year-old Young, who was selected out of Georgia Tech by the Sixers with the 12th overall pick in the 2007 NBA Draft, averaged 8.2 points and 4.2 rebounds in 74 games during his rookie campaign. He had the highest field goal percentage (53.9) of any rookie qualifier and was named to the NBA All-Rookie second team.

Young also averaged 10.2 points and 4.5 boards during the first round of the playoffs against Detroit, which defeated the Sixers in six games.

Smith was originally selected out of Colorado by the Miami Heat with the 20th overall pick in the 2007 NBA Draft and was then dealt to Philadelphia for the rights to Daequan Cook (21st overall pick), a future second round pick and cash considerations. Smith posted 4.5 points and 3.0 rebounds in 76 games last season.

The seven-foot Smith will most likely miss the 2008-09 season. He underwent surgery to repair a torn anterior cruciate ligament in his left knee in the offseason. Smith was originally hurt during a drill at an NBA-approved camp in Las Vegas on August 6. No timetable has been set for his return.